Retirement plan

HARVARD CLUB OF NEW YORK CITY HOTEL, RESTAURANT & CLUB EMPLOYEES & BARTENDERS UNION LOCAL 6 401(K) PLAN

Name: HARVARD CLUB OF NEW YORK CITY - HARVARD CLUB OF NEW YORK CITY HOTEL, RESTAURANT & CLUB EMPLOYEES & BARTENDERS UNION LOCAL 6 401(K) PLAN (2023) Form 5500
Creator: HARVARD CLUB OF NEW YORK CITY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARVARD CLUB OF NEW YORK CITY HOTEL, RESTAURANT & CLUB EMPLOYEES & BARTENDERS UNION LOCAL 6 401(K) PLAN, HARVARD CLUB OF NEW YORK CITY

HARVARD CLUB OF NEW YORK CITYEIN 13-0827620Plan #005PY 2023

35 WEST 44TH STREET - NEW YORK, NY 10036212-827-1227hcny.comLinkedIn201-500 employeeshospitality

Other plans on this EIN

2 filings

#003Retirement-$15.7M assets #004Retirement-$697K assets

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$5.5M

+24.1% from 2022

Total participants

183

-1.1% from 2022

Average account balance

$49,965

+25.3% from 2022

Annual return

17.16%

+32.42 pp from 2022

Benchmarks

See 1,291 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants100-249

Cohort1,291 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$5.66M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$54K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

105

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

59.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$503K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+14.07%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$137

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 2 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER LIFE & ANNUITY INSURANCE CO Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$10,667
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$3,191

Plan features & details

Pension benefit codes2F2G2J2T3D

Plan features

2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$14K

$85 / participant

Recordkeeping$11K77.0%
Investment mgmt$3K23.0%

% of EOY assets

0.252%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CONDON O'MEARA MCGINTY & DONNELLY
Auditor EIN: 133628255
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$49,965

$27,800+79.7%

$58,507-14.6%

$71,529-30.1%

Participation rate

55.2%

34.6%+20.6pp

50.9%+4.3pp

67.9%-12.7pp

Annual return

17.16%

26.80%-9.6pp

4252.32%-4235.2pp

28.97%-11.8pp

Employer contribution / active EE

$632-100.0%

$1,053-100.0%

$2,590-100.0%

Participant deferral / active EE

$2,872

$1,208+137.7%

$1,922+49.4%

$4,291-33.1%

Admin fee / account holder

$126

$1,637-92.3%

$2,486-94.9%

$1,588-92.1%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER LIFE & ANNUITY INSURANCE CO

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$10,667

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$3,191

HARVARD CLUB OF NEW YORK CITY HOTEL, RESTAURANT & CLUB EMPLOYEES & BARTENDERS UNION LOCAL 6 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARVARD CLUB OF NEW YORK CITY HOTEL, RESTAURANT & CLUB EMPLOYEES & BARTENDERS UNION LOCAL 6 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion